Sterling Bank Waives Transfer Fees, Returns N2 Billion to Customers

Sterling Bank has achieved a significant milestone by implementing a zero transfer fee policy, which has resulted in over N2 billion being returned directly to customers. This initiative, launched on April 1, 2025, is part of the bank's strategy to eliminate transfer charges on its digital platform, OneBank.

Abubakar Suleiman, the Chief Executive Officer of Sterling Bank, emphasized that this decision is a deliberate effort to reshape the banking experience in Nigeria by redefining the value banks provide to customers. The bank aims to challenge the traditional norms of banking and build a model focused on delivering real value rather than generating revenue from transaction fees.

Donatu Okpako, the Chief Marketing Officer, described this anniversary milestone as a signal for future initiatives that will continue to prioritize customer benefits. The bank plans to expand its offerings across payments, savings, and credit to improve financial outcomes and widen access for Nigerians.